Last close · 16 Oct 2026
Rs 8.85 -0.56%
Annual · FY2012 – FY2026
Merit Packaging Limited (MERIT) income statement
Merit Packaging Limited reported revenue of Rs 3.4 bn for FY2026 (Jul 2025 – Jun 2026), down 35.1% on FY2025. Gross profit came to Rs 59.6 mn, a gross margin of 1.7%. Operating profit was -Rs 215.7 mn (an operating margin of -6.3%). Finance cost was Rs 96.8 mn, down 46.5% on FY2025. Tax of Rs 69.8 mn took 36.1% of pre-tax profit. Profit attributable to shareholders was Rs 123.6 mn, or Rs 0.62 per share.
| Rs mn | FY2026 Jul 2025 – Jun 2026 | FY2025 Jul 2024 – Jun 2025 | FY2024 * Jul 2023 – Jun 2024 | FY2023 Jul 2022 – Jun 2023 | FY2022 Jul 2021 – Jun 2022 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 3,426.9 | 5,280.9 | 6,638.5 | 6,340.6 | 4,181.6 | ||||||||||
| Cost of revenue | (3,367.3) | (5,309.7) | (6,180.4) | (5,849.0) | (3,928.7) | ||||||||||
| Gross profit | 59.6 | (28.7) | 458.1 | 491.6 | 252.9 | ||||||||||
| Selling, general & administrative expenses | (288.8) | (338.3) | (245.2) | (196.3) | (170.3) | ||||||||||
| Operating profit | (215.7) | (370.6) | 199.8 | 245.8 | 110.6 | ||||||||||
| Finance cost | (96.8) | (180.9) | (349.5) | (343.4) | (261.4) | ||||||||||
| Profit before tax | 193.4 | (599.7) | (186.4) | (189.9) | (170.4) | ||||||||||
| Taxation | (69.8) | 0.0 | 0.0 | 0.0 | 2.2 | ||||||||||
| Profit after tax | 123.6 | (599.7) | (186.4) | (189.9) | (168.2) | ||||||||||
| Profit attributable to shareholders | 123.6 | (599.7) | (186.4) | (189.9) | (168.2) | ||||||||||
| Per share & other | |||||||||||||||
| EPS – basic (Rs) Rs | 0.62 | (3.00) | (0.93) | (0.95) | (1.13) | ||||||||||
| EPS – diluted (Rs) Rs | 0.62 | (3.00) | (0.93) | (0.95) | (1.13) | ||||||||||
| Dividend per share (Rs) Rs | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||
| EBITDA | (17.5) | (137.2) | 436.3 | 435.4 | 303.0 | ||||||||||
| Depreciation & amortisation | 198.2 | 233.4 | 236.6 | 189.6 | 192.4 | ||||||||||
| Weighted average shares mn | 200.0 | 200.0 | 200.0 | 200.0 | 148.2 | ||||||||||
| Rs mn | FY2026 Jul 2025 – Jun 2026 | FY2025 Jul 2024 – Jun 2025 | FY2024 * Jul 2023 – Jun 2024 | FY2023 Jul 2022 – Jun 2023 | FY2022 Jul 2021 – Jun 2022 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | -35.1% | -20.4% | +4.7% | +51.6% | +44.1% | ||||||||||
| Cost of revenue | -36.6% | -14.1% | +5.7% | +48.9% | +33.4% | ||||||||||
| Gross profit | — | -106.3% | -6.8% | +94.4% | — | ||||||||||
| Selling, general & administrative expenses | -14.6% | +38.0% | +24.9% | +15.2% | +25.5% | ||||||||||
| Operating profit | — | -285.5% | -18.7% | +122.3% | — | ||||||||||
| Finance cost | -46.5% | -48.2% | +1.8% | +31.4% | -19.3% | ||||||||||
| Profit before tax | — | — | — | — | — | ||||||||||
| Taxation | — | — | — | — | -111.0% | ||||||||||
| Profit after tax | — | — | — | — | — | ||||||||||
| Profit attributable to shareholders | — | — | — | — | — | ||||||||||
| Per share & other | |||||||||||||||
| EPS – basic (Rs) | — | — | — | — | — | ||||||||||
| EPS – diluted (Rs) | — | — | — | — | — | ||||||||||
| Dividend per share (Rs) | — | — | — | — | — | ||||||||||
| EBITDA | — | -131.4% | +0.2% | +43.7% | +1,781.9% | ||||||||||
| Depreciation & amortisation | -15.1% | -1.3% | +24.8% | -1.5% | -15.0% | ||||||||||
| Weighted average shares | — | — | — | — | — | ||||||||||
Change against the previous fiscal year; shown when the earlier figure is positive.
| Rs mn | FY2026 Jul 2025 – Jun 2026 | FY2025 Jul 2024 – Jun 2025 | FY2024 * Jul 2023 – Jun 2024 | FY2023 Jul 2022 – Jun 2023 | FY2022 Jul 2021 – Jun 2022 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | ||||||||||
| Cost of revenue | (98.3%) | (100.5%) | (93.1%) | (92.2%) | (94.0%) | ||||||||||
| Gross profit | 1.7% | (0.5%) | 6.9% | 7.8% | 6.0% | ||||||||||
| Selling, general & administrative expenses | (8.4%) | (6.4%) | (3.7%) | (3.1%) | (4.1%) | ||||||||||
| Operating profit | (6.3%) | (7.0%) | 3.0% | 3.9% | 2.6% | ||||||||||
| Finance cost | (2.8%) | (3.4%) | (5.3%) | (5.4%) | (6.3%) | ||||||||||
| Profit before tax | 5.6% | (11.4%) | (2.8%) | (3.0%) | (4.1%) | ||||||||||
| Taxation | (2.0%) | 0.0% | 0.0% | 0.0% | 0.1% | ||||||||||
| Profit after tax | 3.6% | (11.4%) | (2.8%) | (3.0%) | (4.0%) | ||||||||||
| Profit attributable to shareholders | 3.6% | (11.4%) | (2.8%) | (3.0%) | (4.0%) | ||||||||||
| Per share & other | |||||||||||||||
| EBITDA | (0.5%) | (2.6%) | 6.6% | 6.9% | 7.2% | ||||||||||
| Depreciation & amortisation | 5.8% | 4.4% | 3.6% | 3.0% | 4.6% | ||||||||||
Each line as a percentage of revenue.
Figures in Pakistani rupees as reported by the company; costs and cash outflows in brackets; "—" = not reported. * Figures in this period do not fully reconcile in the source data (hover the * for details). Updated 16 Oct 2026.
All reported line items 97
| Rs mn | FY2026 Jul 2025 – Jun 2026 | FY2025 Jul 2024 – Jun 2025 | FY2024 Jul 2023 – Jun 2024 | FY2023 Jul 2022 – Jun 2023 | FY2022 Jul 2021 – Jun 2022 |
|---|---|---|---|---|---|
| Revenue from Goods & Services | 3,426.9 | 5,280.9 | 6,638.5 | 6,340.6 | 4,181.6 |
| Sales of Goods & Services - Net - Unclassified | 3,426.9 | 5,280.9 | 6,638.5 | 6,340.6 | 4,181.6 |
| Revenue from Business Activities - Total | 3,426.9 | 5,280.9 | 6,638.5 | 6,340.6 | 4,181.6 |
| Cost of Operating Revenue | 3,367.3 | 5,309.7 | 6,180.4 | 5,849.0 | 3,928.7 |
| Cost of Revenues - Total | 3,367.3 | 5,309.7 | 6,180.4 | 5,849.0 | 3,928.7 |
| Cost of Revenues - Unclassified | 3,177.6 | 5,083.3 | 5,949.2 | 5,664.4 | 3,739.2 |
| Selling, General & Administrative Expenses - Total | 288.8 | 338.3 | 245.2 | 196.3 | 170.3 |
| Selling, General & Administrative Expenses - Unclassified | 273.8 | 331.3 | 239.8 | 191.3 | 167.5 |
| Amortization in Cost of Revenues | — | — | 0.0 | 0.0 | 0.1 |
| Depreciation in Cost of Revenues | 189.6 | 226.3 | 231.2 | 184.6 | 189.5 |
| Depreciation in Selling, General & Administrative Expenses | 8.5 | 7.0 | 5.3 | 4.8 | 2.6 |
| Amortization of Intangibles in Selling, General & Administrative Expenses | 0.1 | 0.1 | 0.1 | 0.1 | 0.3 |
| Other Operating Expense/(Income) - Net | (13.6) | 3.5 | 13.1 | 49.5 | (28.0) |
| Other Operating Income - Total | 37.3 | 7.5 | 2.3 | 0.4 | 38.2 |
| Gross Profit - Industrials/Property - Total | 59.6 | (28.7) | 458.1 | 491.6 | 252.9 |
| Operating Expenses - Total | 3,642.5 | 5,651.5 | 6,438.7 | 6,094.8 | 4,071.1 |
| Selling, General & Administrative Expenses - Other - Total | 6.5 | — | — | — | — |
| Operating Profit before Non-Recurring Income/(Expense) | (215.7) | (370.6) | 199.8 | 245.8 | 110.6 |
| Financing Income/(Expense) - Net - Total | (97.2) | (183.1) | (351.7) | (344.3) | (263.2) |
| Interest Expense - Net of (Interest Income) | 96.8 | 180.9 | 349.5 | 343.4 | 261.4 |
| Other Operating Expense | 23.7 | 11.0 | 15.4 | 49.9 | 10.2 |
| Interest Expense - Net of Capitalized Interest | 96.8 | 180.9 | 349.5 | 343.4 | 261.4 |
| Provision for Doubtful Accounts & Write-off | 6.5 | — | — | — | — |
| Non-Interest Financial Income/(Expense) - Total | (0.4) | (2.2) | (2.2) | (0.9) | (1.8) |
| Non-Interest Financial Income/(Expense) - Other - Net | (0.4) | (2.2) | (2.2) | (0.9) | (1.8) |
| Sale of Tangible & Intangible Fixed Assets - Gain/Loss | 554.5 | 20.3 | 48.8 | 33.0 | (17.8) |
| Other Non-Operating Income/(Expense) - Total | (48.2) | (66.3) | (83.2) | (124.4) | — |
| Normalized Pre-tax Profit | 193.4 | (599.7) | (186.4) | (189.9) | (170.4) |
| Non-Recurring Income/Expense - Total | — | — | — | — | 0.0 |
| Impairment - Tangible & Intangible Fixed Assets | — | — | — | — | 0.0 |
| Impairment - Fixed Assets | — | — | — | — | 0.0 |
| Provision for Income Tax Expense- Unclassified | 69.8 | 0.0 | 0.0 | 0.0 | (2.2) |
| Income before Taxes | 193.4 | (599.7) | (186.4) | (189.9) | (170.4) |
| Income Taxes | 69.8 | 0.0 | 0.0 | 0.0 | (2.2) |
| Net Income after Tax | 123.6 | (599.7) | (186.4) | (189.9) | (168.2) |
| Income before Discontinued Operations & Extraordinary Items | 123.6 | (599.7) | (186.4) | (189.9) | (168.2) |
| Net Income before Minority Interest | 123.6 | (599.7) | (186.4) | (189.9) | (168.2) |
| Net Income after Minority Interest | 123.6 | (599.7) | (186.4) | (189.9) | (168.2) |
| Income Available to Common Shares | 123.6 | (599.7) | (186.4) | (189.9) | (168.2) |
| DPS - Common - Gross - Issue - By Period End Date Rs | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Income - Basic - including Extraordinary Items Applicable to Common - Total | 123.6 | (599.7) | (186.4) | (189.9) | (168.2) |
| Income available to Common excluding Extraordinary Items | 123.6 | (599.7) | (186.4) | (189.9) | (168.2) |
| Shares used to calculate Basic EPS - Total mn | 200.0 | 200.0 | 200.0 | 200.0 | 148.2 |
| EPS - Basic - including Extraordinary Items Applicable to Common - Total Rs | 0.62 | (3.00) | (0.93) | (0.95) | (1.13) |
| EPS - Basic - excluding Extraordinary Items Applicable to Common - Total Rs | 0.62 | (3.00) | (0.93) | (0.95) | (1.13) |
| EPS - Basic - excluding Extraordinary Items - Normalized - Total Rs | 0.62 | (3.00) | (0.93) | (0.95) | (1.13) |
| Allocated Net Income including Extraordinary Items Applicable to Common - Issue Specific | 123.6 | (599.7) | (186.4) | (189.9) | (168.2) |
| Earnings Allocation Factor - Basic - Issue Specific | 1.00× | 1.00× | 1.00× | 1.00× | 1.00× |
| Shares used to calculate Basic EPS - Issue Specific mn | 200.0 | 200.0 | 200.0 | 200.0 | 148.2 |
| EPS - Basic - including Extraordinary Items Applicable to Common - Issue Specific Rs | 0.62 | (3.00) | (0.93) | (0.95) | (1.13) |
| EPS - Basic - excluding Extraordinary Items Applicable to Common - Issue Specific Rs | 0.62 | (3.00) | (0.93) | (0.95) | (1.13) |
| EPS - Basic - excluding Extraordinary Items - Normalized - Issue Specific Rs | 0.62 | (3.00) | (0.93) | (0.95) | (1.13) |
| EPS - Basic from Discontinued Operations & Extraordinary Items Rs | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Dilution Adjustment | — | — | — | — | — |
| Net Income - Diluted - including Extraordinary Items Applicable to Common - Total | 123.6 | (599.7) | (186.4) | (189.9) | (168.2) |
| Diluted Income available to Common excluding Extraordinary Items | 123.6 | (599.7) | (186.4) | (189.9) | (168.2) |
| Shares used to calculate Diluted EPS - Total mn | 200.0 | 200.0 | 200.0 | 200.0 | 148.2 |
| EPS - Diluted - including Extraordinary Items Applicable to Common - Total Rs | 0.62 | (3.00) | (0.93) | (0.95) | (1.13) |
| EPS - Diluted - excluding Extraordinary Items Applicable to Common - Total Rs | 0.62 | (3.00) | (0.93) | (0.95) | (1.13) |
| EPS - Diluted - excluding Extraordinary Items - Normalized - Total Rs | 0.62 | (3.00) | (0.93) | (0.95) | (1.13) |
| Allocated Diluted Net Income including Extraordinary Items Applicable to Common - Issue Specific | 123.6 | (599.7) | (186.4) | (189.9) | (168.2) |
| Earnings Allocation Factor - Diluted - Issue Specific | 1.00× | 1.00× | 1.00× | 1.00× | 1.00× |
| Shares used to calculate Diluted EPS - Issue Specific mn | 200.0 | 200.0 | 200.0 | 200.0 | 148.2 |
| EPS - Diluted - including Extraordinary Items Applicable to Common - Issue Specific Rs | 0.62 | (3.00) | (0.93) | (0.95) | (1.13) |
| EPS - Diluted - excluding Extraordinary Items Applicable to Common - Issue Specific Rs | 0.62 | (3.00) | (0.93) | (0.95) | (1.13) |
| EPS - Diluted - excluding Extraordinary Items - Normalized - Issue Specific Rs | 0.62 | (3.00) | (0.93) | (0.95) | (1.13) |
| EPS - Diluted from Discontinued Operations & Extraordinary Items Rs | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| DPS - Common - Gross - Issue - By Announcement Date Rs | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| DPS - Common - Net - Issue - By Announcement Date Rs | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Earnings before Interest & Taxes (EBIT) | (215.7) | (370.6) | 199.8 | 245.8 | 110.6 |
| Earnings before Interest, Taxes, Depreciation & Amortization (EBITDA) | (17.5) | (137.2) | 436.3 | 435.4 | 303.0 |
| Depreciation & Amortization - Supplemental | 198.2 | 233.4 | 236.6 | 189.6 | 192.4 |
| Depreciation Expense - Total - Supplemental | 198.1 | 233.3 | 236.5 | 189.4 | 192.1 |
| Amortization - Total - Supplemental | 0.1 | 0.1 | 0.1 | 0.2 | 0.3 |
| Depreciation, Depletion & Amortization - Total | 198.2 | 233.4 | 236.6 | 189.6 | 192.4 |
| Depreciation - Total | 198.1 | 233.3 | 236.5 | 189.4 | 192.1 |
| Amortization of Intangible Assets excluding Goodwill - Total | 0.1 | 0.1 | 0.1 | 0.2 | 0.3 |
| Normalized after Tax Profit | 123.6 | (599.7) | (186.4) | (189.9) | (168.2) |
| Normalized Net Income from Continuing Operations | 123.6 | (599.7) | (186.4) | (189.9) | (168.2) |
| Normalized Net Income - Bottom Line | 123.6 | (599.7) | (186.4) | (189.9) | (168.2) |
| Earnings before Interest & Taxes (EBIT) - Normalized | 290.2 | (418.8) | 163.2 | 153.5 | 91.0 |
| Earnings before Interest, Taxes, Depreciation & Amortization (EBITDA) - Normalized | 488.4 | (185.4) | 399.8 | 343.1 | 283.4 |
| Interest Expense on Financial Lease Liabilities - Supplemental | 30.2 | 31.4 | 2.6 | — | 0.0 |
| Interest Expense | 96.8 | 180.9 | 349.5 | 343.4 | 261.4 |
| Operating Expenses | 3,642.5 | 5,651.5 | 6,438.7 | 6,094.8 | 4,071.1 |
| Selling, General & Administrative Expenses excluding Research & Development Expenses | 288.8 | 338.3 | 245.2 | 196.3 | 170.3 |
| Income before Taxes & Provision for Loan Losses | 193.4 | (599.7) | (186.4) | (189.9) | (170.4) |
| Cost of Revenue including Operation & Maintenance (Utility) - Total | 3,367.3 | 5,309.7 | 6,180.4 | 5,849.0 | 3,928.7 |
| Cost of Revenues excluding Depreciation | 3,177.6 | 5,083.3 | 5,949.2 | 5,664.4 | 3,739.2 |
| DPS - Common - Gross - Issue - By Payable Date Rs | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| DPS - Common - Gross - Issue - By Ex Date Rs | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Tax Adjusted Operating Income | 185.5 | — | — | — | — |
| Operating Expenses excluding Non-Cash Charges - Total | 3,444.4 | 5,418.1 | 6,202.1 | 5,905.3 | 3,878.6 |
| Income Available to Common Shares before Depreciation & Amortization | 321.8 | (366.3) | 50.2 | (0.3) | 24.3 |
| Fixed Charges | 96.8 | 180.9 | 349.5 | 343.4 | 261.4 |
| Estimated Tax Rate | 0.29× | 0.29× | 0.29× | 0.29× | 0.29× |
| Total Common & Spl DPS -Gross - Issue - By Announcement Date Rs | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Every line the company reported, in the original order and wording, without regrouping or signs changed.